The New Orleans Saints and salary cap issues go together like Mardi Gras and bead-throwing—it’s an annual tradition at this point. Every offseason, the front office pulls off a financial magic act, juggling contracts, restructuring deals, and making tough cuts to squeeze under the cap. And this year is no different. The team has recently restructured the contract of one of their offensive stars after saying goodbye to RB Jamaal Williams.

The Saints are back at it with their usual salary cap gymnastics. This time, Erik McCoy was the focus. The reliable offensive lineman carried a hefty $15.5 million cap hit – yeah, that’s a lot of cheddar. But while McCoy was out enjoying life, cruising in a Mardi Gras parade, the Saints were busy working behind the scenes to restructure his contract. And guess what? They got it done. The team has slashed that cap hit down to around $8.8 million, saving nearly $6.7 million in the process. A smart move, considering they need all the financial flexibility they can get.

Kellen Moore‘s team reworked McCoy’s contract as they had to save money on this year’s salary cap. So, the Saints lowered McCoy’s $9.6 million base salary to the minimum $1.17 million. They turned his $500K roster bonus into a signing bonus. This would allow the Saints’ management to spread out the cost over the next four years.

But not everyone made it through the cap-clearing process. Jamaal Williams? Not so lucky.

Saints free up funds: Jamaal Williams out

The Saints parted ways with the veteran RB Jamaal Williams, officially released yesterday. He’d say he knew it was coming if he’s honest about it, given his disappointing tenure in New Orleans. When the Saints signed Williams in 2023, they hoped to get the same touchdown machine who led the league with 17 rushing TDs for Detroit the year before. Instead, they got a guy who barely found the end zone once in 2023 (306 rushing yards) and spent most of 2024 as a shadow of his 2022 self (164 rushing yards, 1TD). This was Jamaal’s worst career performance.

The 29-year-old had signed a three-year, $12 million deal with the team, which also included $8.15 million in guaranteed money. In his first season, he struggled with injuries and managed just one rushing touchdown, which came in the final game of the regular season. And this season -well, you already know how that went! After two not-so-impressive seasons, New Orleans is now making Jamaal pack his bags.

So, now as free agency approaches, what could be the potential teams that might offer Williams a spot on their squad? Looking at his performance over the last few seasons, it might be an issue for him to find a new home. But these franchises might sign the veteran RB.

First is the Giants. It still haunts John Mara that he let go of Saquon Barkley, but it is what it is now. So, maybe adding a veteran RB could give them some hope. Another team is the Seahawks. For now, Geno Smith is mostly doing everything for the team, so maybe adding Jamaal might help share some of Geno’s load. Jerry Jones‘ Cowboys might also sign Williams, as Rico Dowdle will hit free agency.

The free agency window will open on March 12, so it’s only a matter of weeks until we know how the teams are rolling in.